Facebook beats expectations in Q4, posts EPS of $0.17 on $1.59 billion in revenue

Shares of Facebook (FB) have rebounded nicely since the company’s disastrous initial public offering last May. While the social network’s stock has not reached its IPO price of $38 per share, it has increased more than 30% in the last six months. After beating expectations last quarter, Facebook has continued to grow and focus on new ways of connecting users through the Web. The company recently announced its Graph Search feature and has doubled down on mobile revenue. The numbers are in and Facebook beat Wall Street’s expectations in the fourth quarter. The company reported revenue of $1.585 billion and an EPS of $0.17, ahead of the Street’s expectations of $1.53 billion in revenue and EPS of $0.15.

[More from BGR: BlackBerry Z10 review]

“In 2012, we connected over a billion people and became a mobile company,” said CEO and founder Mark Zuckerberg. “We enter 2013 with good momentum and will continue to invest to achieve our mission and become a stronger, more valuable company.”

[More from BGR: Dropbox now guaranteed massive success after Ballmer dismisses it as a ‘little startup’]

Facebook revealed that its mobile daily active users exceeded web daily active users for the first time in the fourth quarter. As of December, combined daily active users reached 618 million, an increase of 28% year-over-year. Monthly active users reached 1.06 billion, an increase of 25% year-over-year, with mobile accounting for 680 million, a 57% increase from last year.

Facebook’s revenue of $1.585 billion represented a 40% increase from the fourth quarter of 2011. Perhaps one of the most important numbers was its mobile revenue, which accounted for 23% of all advertising revenue in Q4, an increase from 14% in the third quarter of 2012.

This article was originally published on BGR.com